Comcast raises stakes in Sky bidding war with £26BN offer | Major Businesses | Business
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The bidding war for pay-TV firm Sky is most definitely on as less than a day after Rupert Murdoch's media group 21st Century Fox upped its offer for control of the Sky, US cable giant Comcast comes back to the table with a bid of £14.75 per share.
skyQ318 19APr2018As it made its bid, valuing the pay-TV group at £26 billion, Comcast said that its new offer  had been recommended by the Sky Independent Committee of Directors and that it further underscored its belief and its commitment to owning the much-valued pay-TV provider.

The stakes for Sky were raised on 11 July 2018 when 21CF increased its recommended pre-conditional cash offer for the fully diluted share capital of Sky which it and its affiliates do not already own at a price of £14.00 for each Sky share. This was £1.50 per share in excess of the Comcast bid and valued Sky at £24.5 billion.

Comcast’s move comes on that day that the UK government is expected to give its full approval for Rupert Murdoch’s company to go ahead with its long-held plan to acquire the 61% of shares in Sky that his media firm doesn’t hold. On 19 June, in a Parliamentary Statement assessing the respective bids for Sky from Comcast and 21CF on 6 June 2018, the then UK Secretary of State Department for Digital, Culture, Media and Sport, Matt Hancock expressed no issue with the US cable giant cable giant’s bid but noted misgivings previously expressed by the UK Competition and Markets Authority (CMA) and broadcast regulator Ofcom regarding that by 21CF. Hancock, now replaced by Jeremy Wright, was expected to make his final announcement on 12 July 2018.